News Release

GameStop Corp. (NYSE: GME), the world's largest multi-channel video game
retailer, today reported record sales results for the nine-week holiday
period ended January 1, 2011.

Total sales for the period were $3.02 billion, a 5.4% increase as
compared to the 2009 holiday sales period, with comparable store sales
increasing 3.4%. GameStop also produced 32% growth in gift card sales in
December.

Paul Raines, Chief Executive Officer, commented, "GameStop exceeded its
holiday sales plan based on the strength in Kinect hardware and new
software sales driven by core titles. Additionally, our PowerUp Rewards(TM)
loyalty program, already six million members strong, gave consumers more
reasons than ever to shop GameStop across multiple channels."

Tony Bartel, President, added, "Over the holiday, GameStop reaped the
benefits of its investment in e-commerce. GameStop.com sales rose more
than 100% versus last year, far outpacing online industry growth during
the period, remaining the fastest growing website in the video game
space."

For the holiday period, total company sales of new hardware improved
7.4%, primarily from the successful debut of Microsoft's Kinect. New
video game software sales increased 3.3%, driven by strong sell through
of Sony PlayStation 3 and Microsoft Xbox 360 titles, such as
Activision's Call of Duty: Black Ops and Ubisoft's Assassin's
Creed: Brotherhood.

Sales in the Other category, which includes video game accessories and
PC games, grew 15.9%, led by sales of Sony PlayStation Move and Blizzard
Entertainment's World of Warcraft: Cataclysm.

Total used products gained 1.7% during the period; however, the U.S.
segment increased 8.5% in December and post-holiday sales are
significantly outperforming expectations.

Updated Guidance

Based on the holiday results and current trends, GameStop is reiterating
its previously announced fourth quarter and full year earnings per share
guidance ranges of $1.53 to $1.59 and $2.63 to $2.69, excluding debt
retirement costs, representing a 16% to 19% increase for the full year.
The company still expects comparable store sales for the fourth quarter
to range from 2.0% to 4.0% and full year comparable store sales to range
from flat to 2.0%.

Full year 2010 sales and earnings results and fiscal 2011 earnings
guidance are expected to be released in March 2011.

GameStop will be presenting at the CES mini conference hosted by Credit
Suisse and Oppenheimer & Co. on Friday, January 7, 2011 at 9am PT in Las
Vegas, NV. This presentation will be available via dial-in at
1-888-539-3679 or by visiting http://investor.gamestop.com/.

About GameStop

GameStop Corp. (NYSE: GME), a Fortune 500 and S&P 500 company
headquartered in Grapevine, Texas, is the world's largest multi-channel
video game retailer. GameStop's retail network and family of brands
include 6,606 company-operated stores in 17 countries worldwide, www.Kongregate.com,
a leading browser-based game site with more than 10 million monthly
unique visitors, and Game Informer(R) magazine, the leading
multi-platform video game publication. The company also sells video
games and related merchandise at www.GameStop.com.
General information on GameStop Corp. can be obtained at the company's
corporate website.

Safe Harbor

This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
statements may include, but are not limited to, the outlook for fiscal
2010, future financial and operating results, projected store openings,
the company's plans, objectives, expectations and intentions, and other
statements that are not historical facts. Such statements are based upon
the current beliefs and expectations of GameStop's management and are
subject to significant risks and uncertainties. Actual results may
differ from those set forth in the forward-looking statements. GameStop
undertakes no obligation to publicly update or revise any
forward-looking statements. The following factors, among others, could
cause actual results to differ from those set forth in the
forward-looking statements: the inability to obtain sufficient
quantities of product to meet consumer demand, including console
hardware; the timing of release of video game titles for next generation
consoles; the risks associated with expanded international operations
and the integration of acquisitions; the impact of increased competition
and changing technology, including alternative methods of distribution,
in the video game industry; and economic, regulatory and other events,
including litigation, that could reduce or impact consumer demand or
affect the company's business. Additional factors that could cause
GameStop's results to differ materially from those described in the
forward-looking statements can be found in GameStop's Annual Report on
Form 10-K for the fiscal year ended January 30, 2010 filed with the SEC
and available at the SEC's Internet site at http://www.sec.gov
or http://investor.gamestop.com.